§ 1089. Directors; officers
(a) The bylaws of a worker cooperative shall provide for the election, terms, classifications, if any, and removal of directors and officers in accordance with the provisions of this chapter or the provisions of chapter 17 of this title.
(b) Nonmembers may serve as directors or officers of a worker cooperative but at no time shall there be a majority of nonmember directors.
(c) Vacancies in director positions resulting from death, resignation, or removal shall be filled by vote of the member directors or by vote of the members. (Added 1985, No. 46, § 1.)
Structure Vermont Statutes
Title 11 - Corporations, Partnerships and Associations
Chapter 8 - Worker Cooperative Corporations
§ 1083. Corporations organized under chapter 17; election to be governed as worker cooperative
§ 1084. Revocation of election
§ 1086. Members’ membership shares; fees; rights and responsibilities
§ 1087. Voting shares; bylaws; amendment of articles of organization
§ 1088. Net earnings or losses; apportionment, distribution, and payment